PREMIER SHARE IN MINE

Taranaki Daily News, 10 May 1930, Page 9

PREMIER SHARE IN MINE

SALE OF MUNGAMA. LEASES

QUEENSLAND INVESTIGATION

‘SIGNED SISTER’S RECEIPTS’

gy YolegrAph—~Press Assn.•*—Copy right Rec. 10.23 p.m. Brisbane, May 9. Evidence of Mr. W. McCormack’s interests in mining ventures was given to-day before the Royal Commission, which is inquiring into the sale of the Mungana leases to the Queensland Government in 1921, at which time Mr. McCormack was Premier. It was stated that the Government paid £40,000 for the leases and that Mr. McCormack held a considerable number of shares, indeed, far more than he admitted owning. Mr. Duncan MocDiarmid gave evidence that Mr. McCormack had 388 shares .allotted in his own name, while 2688 were transferred from Mr. Frederick Reid, who was interested in these leases, to Mr. McCormack’s three sisters. Dividends amounting to £13,328 were subsequently paid to Mr. McCormack and his sisters. The receipts for the money payable to his sister Mary /‘were obviously in Mr. McCormack’s ha nd writ-

Mr. Mac Diarmid, Who was formerly secretary of the Mungana company, said he had no reason for sheltering Mr. McCormack. Cheques due to Mr. McCormack’s sisters were probably sent “Care Mr. McCormack, Premier's Office, Parliament House.”